Topline Capital Management LLC Buys New Position in Vestis Co. (NYSE:VSTS)

by · The Markets Daily

Topline Capital Management LLC purchased a new position in Vestis Co. (NYSE:VSTS – Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 451,442 shares of the company’s stock, valued at approximately $6,880,000. Vestis accounts for 1.3% of Topline Capital Management LLC’s holdings, making the stock its 15th largest position. Topline Capital Management LLC owned approximately 0.34% of Vestis as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of VSTS. Spire Wealth Management acquired a new stake in shares of Vestis in the fourth quarter worth $29,000. Smartleaf Asset Management LLC grew its position in Vestis by 548.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,510 shares of the company’s stock worth $38,000 after purchasing an additional 2,123 shares during the last quarter. GAMMA Investing LLC grew its position in Vestis by 17.9% in the 4th quarter. GAMMA Investing LLC now owns 4,670 shares of the company’s stock worth $71,000 after purchasing an additional 710 shares during the last quarter. Quantbot Technologies LP bought a new position in shares of Vestis during the 4th quarter worth about $93,000. Finally, Sterling Capital Management LLC raised its position in shares of Vestis by 45.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,882 shares of the company’s stock valued at $120,000 after buying an additional 2,479 shares during the last quarter. 97.40% of the stock is currently owned by institutional investors and hedge funds.

Vestis Price Performance

Vestis stock opened at $8.82 on Friday. The business has a 50 day simple moving average of $10.08 and a 200 day simple moving average of $13.40. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.80 and a quick ratio of 1.43. The company has a market capitalization of $1.16 billion, a PE ratio of 110.20 and a beta of 1.55. Vestis Co. has a one year low of $7.35 and a one year high of $18.99.

Vestis (NYSE:VSTS – Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. Vestis had a return on equity of 7.91% and a net margin of 0.34%. During the same quarter in the previous year, the firm earned $0.22 earnings per share. On average, sell-side analysts forecast that Vestis Co. will post 0.7 EPS for the current fiscal year.

Vestis Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 18th. Shareholders of record on Friday, February 21st were paid a dividend of $0.035 per share. The ex-dividend date of this dividend was Friday, February 21st. This represents a $0.14 annualized dividend and a yield of 1.59%. Vestis’s dividend payout ratio is 175.00%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on VSTS. Robert W. Baird decreased their target price on Vestis from $17.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. The Goldman Sachs Group lowered their price objective on Vestis from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Finally, Barclays reduced their target price on Vestis from $13.00 to $10.00 and set an “underweight” rating for the company in a research report on Friday, April 4th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $13.08.

Check Out Our Latest Research Report on VSTS

Vestis Company Profile

(Free Report)

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.

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